Is it DISLOYAL of an AMERICAN to BUY CHINESE YUAN?
DOLLARS are about to crash, Chinese YUAN will rise to the top. Why? The Chinese have 1,373,044,605 hard working people over there. That was FEB 2017. Think of it: 1.3 billion. More today.
TODAY:The U.S. debt to China is $1.12 trillion as of March 2019. That's 28% of the $4.07 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself. China has the greatest amount of U.S. debt held by a foreign country. Japan comes second at $1.08 trillion, followed by the United Kingdom at $317 billion. Brazil hold $311 billion and Ireland holds $278 billion.
BUT WHY CHINA is special. They have no pension system so nobody gets Social Security. Instead, the people all work like drones, bank or save their income for their old age. They are frugal, Save like crazy, don't spend, don't buy much. They sure can't afford to buy our stuff. So there's huge trade inequality! We raise the TRUMP TARIFF on them, they don't even feel it. We continue to buy all their stuff and pay more. WHO LOSES? Instantly other countries will gear up to produce soybeans for them. THEY DON'T NEED our crummy soybeans.They will continue to manufacture and SELL NEAT STUFF and they are about to have the hybrid car for 7k each. USA is keeping it out but you tell me who rules when in MARCH 2019 we OWE THEM $1.12 TRILLION DOLLARS. What's gonna happen when they get green energy patents, cars, electric generators, THE ETERNAL BATTERY, noveau nuclear. And Gad knows what ELSE? We will be retro engineering THEM!
They're working furiously at creating their own renewable green ENERGY products and they'll corner the market on those patents, we'll have to pay them to use the stuff. Then, they will corner the marketplace until we raise a tariff or two against them, just like we're blocking their hybrid car. You know that's what we'll do when we REALLY GO BROKE. SO (inhale) BUY YUAN.!!!! This whole process has already started.
BONE UP on all facets of buying yuan, certain problems with it are mentioned ^ in URL ABOVE. Is this just some American economist trying to change the flow of the Mississippi? Create a tipping point in another direction?
Jim Rogers is famous; he retired from Wall Street at the top of his game, moved to Singapore You can trust him on Asian markets.
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